Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Evergreen Capital Management LLC

Evergreen Capital Management LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 16.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,366 shares of the company’s stock after purchasing an additional 194 shares during the quarter. Evergreen Capital Management LLC’s holdings in Elevance Health were worth $740,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bank & Trust Co acquired a new stake in shares of Elevance Health during the second quarter worth $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the second quarter worth $28,000. Palisade Asset Management LLC acquired a new stake in shares of Elevance Health during the first quarter worth $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Elevance Health during the fourth quarter worth $28,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Elevance Health during the first quarter worth $32,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 1.1 %

Shares of ELV stock opened at $527.87 on Wednesday. Elevance Health, Inc. has a fifty-two week low of $431.38 and a fifty-two week high of $567.26. The stock has a market cap of $122.69 billion, a P/E ratio of 19.95, a P/E/G ratio of 1.19 and a beta of 0.82. The business has a fifty day simple moving average of $535.75 and a 200-day simple moving average of $529.87. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $9.04 EPS. On average, analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

Insider Buying and Selling

In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays cut their price objective on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Bank of America reiterated a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research report on Friday, September 20th. Finally, Morgan Stanley assumed coverage on Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $604.29.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.